Stellantis, Foxconn to Form Software-Focused Vehicles JV
May 18 2021 - 6:41AM
Dow Jones News
By Mauro Orru
Stellantis NV and Apple Inc. supplier Foxconn Technology Group
have agreed to establish a vehicles joint venture with a focus on
software that will bid for vehicle-program contracts with
Stellantis and other auto industry companies.
The auto maker, created through the merger of Fiat Chrysler
Automobiles NV and Peugeot SA, said Tuesday that it has signed a
nonbinding memorandum of understanding with Foxconn, formally known
as Hon Hai Precision Industry Co. and its subsidiary FIH Mobile
Ltd.
The evenly split joint venture between Stellantis and Foxconn,
dubbed Mobile Drive, represents an effort by the two companies to
accelerate the development of in-vehicle user experiences based on
advanced consumer electronics.
Netherlands-based Mobile Drive will operate as an automotive
supplier and bid to supply software and related hardware for
Stellantis and other interested auto makers.
"Software is a strategic move for our industry and Stellantis
intends to lead with Mobile Drive--a company that will enable the
swift development of connectivity features and services that mark
the next great evolution of our industry, just as electrification
technology has," Stellantis Chief Executive Carlos Tavares
said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
May 18, 2021 06:26 ET (10:26 GMT)
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